What is Cryptocurrency

What is Cryptocurrency?

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange using cryptography to secure the transactions and to control the creation of additional units of the currency. Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies.

And in other words, we can say Cryptocurrency is a form of digital money that is designed to be very secure and anonymous. It is a currency which is associated with the internet and it used Cryptography which is the process of converting the meaningful information into an almost uncrackable part of codes, to track transfers & orders.

Cryptocurrency was actually coined for the need of secure communication in the Second World War but it has rapidly evolved in the era of digital world to become a profound way to secure communications, faster transfer of information or money online.

And the first Cryptocurrency was bitcoin, which was created in 2009 and it is still the best-known Cryptocurrency in the world among other 900+ Cryptocurrencies.

Based and fully regulated in the USA, Bittrex is the go-to spot for traders who demand lightning-fast trade execution, stable wallets, and industry-best security practices. Whether you are new to trading and cryptocurrencies, or a veteran to both, Bittrex.com was created for you.

Poloniex was once the best cryptocurrency exchange. Why? Well recently customers have been migrating to Bittrex following reports of withdraw problems on Poloniex. Nevertheless Poloniex has been through extremely fast traffic growth since the demise of its rival Cryptsy in 2016, and especially since the recent altcoin bubble of early 2017. Traffic has grown from 7 million monthly visits in February 2017 to 30 million in May 2017. Poloniex has the nicest trading interface out there, both for mobile and desktop users this will work wonders.

Kraken is becoming a reputed bitcoin broker, with many markets served. Europeans love it just as much as Americans because they work well through SEPA, have an easy verification process, and are very knowledgeable when it come to cryptography and security. As of early 2017, this platform has been re-positioning themselves as a crypto exchange by adding multiple new altcoins.

GDAX is great for technical traders and offers good liquidity. Deposits are in USD and can be processed just as rapidly as withdrawls. Also happens to be the best ethereum exchange for serious players in this space.